National Shipping Company of Saudi Arabia (Bahri) said on Sunday it signed a deal with Arab Petroleum Investments Corp. (Apicorp) to launch a $1.5 billion investment fund that could buy up to 15 very large crude carriers (VLCCs).

National Shipping Company of Saudi Arabia (Bahri) said on Sunday it signed a deal with Arab Petroleum Investments Corp. (Apicorp) to launch a $1.5 billion investment fund that could buy up to 15 very large crude carriers (VLCCs).

The National Shipping Company of Saudi Arabia (Bahri) and state oil giant Saudi Aramco have reached an agreement on the terms and conditions of Bahri's merger with Aramco's Vela International Marine unit, the firm said in a bourse statem

Demand for Very Large Crude Carriers (VLCC) shipping Middle East grades surged to a record in the spot market with more than 115 fixtures in March as Opec pumped more supplies, shipbrokers said on Tuesday.
With oil prices trading near $115

Demand for Very Large Crude Carriers (VLCC) shipping Middle East grades surged to a record in the spot market with more than 115 fixtures in March as Opec pumped more supplies, shipbrokers said on Tuesday.
With oil prices trading near $115

State oil giant Saudi Aramco said its shipping subsidiary Vela International Marine had started to operate a new Very Large Crude Carrier (VLCC).
Matar Star, which is the third of four VLCCs Vela ordered from South Korea's Daewoo Ship

PetroChina has diverted the Very Large Crude Carrier (VLCC) 'Front Kathrine' to Fujairah port in the United Arab Emirates after discharging just above half its crude cargo in China, according to shipbrokers and AIS tracking data.
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